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Is the machine impaired

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Question - Company Klee has a machine with a cost of $70,000 and accumulated depreciation of $36,700. The company has a reason to believe that the machine has been impaired. The company estimated future cash flows from the machine to be $30,000 and fair value of the machine to be $32,000. Is the machine impaired? Explain your reasoning and provide the amount of impairment charge to the machine, if any.

Reference no: EM132797775

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